Gold mining shares slip after yesterday's rally

JOHANNESBUG-SOUTH AFICA  (Aug 13)  The JSE All Share had gained 0.20% by midday on Tuesday, with gold mining stocks retreating 0.41% after yesterday's highs.

The rand was trading at R9.92 to the US dollar, remaining stable ahead of the release of US economic data.

Brent crude oil rose 1.44% to sell at $109.78 a barrel, after news that inventories in the US fell. Investors were also concerned that Middle East unrest could affect oil supply chains.

International markets

Yesterday US markets were mixed as investors await the release of data on retail and housing sales, and industrial production this week. The Dow Jones ended 0.04% down, the S&P 500 slid 0.12% but the Nasdaq gained 0.27%.

In Japan, the Nikkei rose 2.57% this morning on a weaker yen, while China's Shanghai index edged up 0.23% led by gains in bank and technology shares. The Hang Seng in Hong Kong ended 1.21% higher as property developers gained.

European markets were up at midday SA time, with the DAX gaining 0.72%, the CAC40 rising 0.30% and the FTSE 100 higher by 0.52% on the back of positive corporate results and growing business confidence in Germany